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Economic growth - How to attain it |
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As Chancellor George Osborne announces that growth will be lower than forecast, Channel 4 News asks economists how they would boost activity.
Tony Dolphin, IPPR
Just days ago, Tony Dolphin, senior economist at the left-of-centre Institute for Public Policy Research, published his 10-point plan for growth. Some of his recommendations bear a similarity to what Mr Osborne announced in his autumn statement - help for the young unemployed, tax breaks for business, infrastructure spending, the expansion of free childcare places. But there is a fundamental difference.
Mr Dolphin believes the government's austerity programme of spending cuts and tax increases is moving ahead too quickly at a time economy activity needs to be stimulated, not stifled.
"The one thing he isn't doing is increasing demand in the economy at the moment," Mr Dolphin told Channel 4 News.
"The main problem is a shortage of demand because our main export market (the eurozone) is going into recession, households are being squeezed, and the government is cutting spending.
Read more here. |
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Retail sales fall at fastest pace since March - CBI |
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High street sales have fallen at their fastest rate in almost three years as the household squeeze continued to take its toll on retailers, raising fresh fears about the recovery, according to research by the CBI.
The scale of decline in annual sales growth for November was far more severe than expected, at minus 19, and far worse than the minus 11 recorded in October, the CBI's Distributive Trades Survey showed. It was the lowest recording since March 2009.
Samuel Tombs at Capital Economics said: "November's survey suggests that the pressures on consumers' finances are taking their toll on spending on the high street." He added that is pointed "to retail sales volumes falling at an annual rate of around 2pc".
Read more here. |
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Arcadia set to close up to 260 stores as profits fall |
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Arcadia, the owner of Top Shop and BhS, reported a 38% fall in annual profits to £133m and says it expects to close up to 260 stores in the next few years.
Arcadia boss Sir Philip Green told the BBC the closures would come as store leases came up for renewal.
It also reported same-store UK sales down by 1.8%.
The group, which owns Burton, Dorothy Perkins and Miss Selfridge, said it expected heavy discounts on the high street this Christmas.
Read more here. |
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Why is Google in love with Bletchley Park? |
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Technology giant Google normally has its eyes fixed firmly on the future. But it has turned its attention to an old house in England to help preserve a slice of computing history.
For nearly half a century after World War II, a Victorian manor house in Buckinghamshire lay neglected and unloved, its dilapidated buildings falling into disrepair.
By the early 90s, plans even emerged to tear down the assorted boarded-up huts around the house and erect a supermarket in their place.
For reasons of national security, a veil of secrecy shrouded Bletchley Park. Only in the last 20 years has the extraordinary story of breaking the code of the German Enigma machine finally become well-known.
Read more here. |
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ITV forecasts a tough Christmas |
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ITV performed strongly in the autumn thanks to the Rugby World Cup and shows such as The X Factor, but a tough Christmas will see TV ad revenues decline year-on-year in the fourth quarter and into 2012.
ITV, reporting results for the first nine months of the year, said that TV ad revenue was up 1% in the third quarter.
ITV's family of channels – comprising ITV1, 2, 3 and 4 – reported TV ad revenue up 2% in July, down 3% in August and up 7% in September.
The broadcaster said that this was ahead of is own expectations and also ahead of the TV advertising market.
Read more here. |
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